Spain Q4 public debt at 99% of GDP; exceeds 2015 target

spain public deficitSONY DSC

Spain’s public debt stood at 1.070 trillion euros in the fourth quarter, 7.562 billion euros more than in the previous one, according to Bank of Spain data.

But as a percentage of GDP, this has dropped three-tenths of a percent to 99%, as a result of Spain’s economic growth in the October-December period.

This end-2015 percentage is three-tenths of a percent higher than the government’s full-year target of 98.7%, as outlined in the updated Stability Programme sent to Brussels.

In year-on-year terms, public debt rose 3.5% in the fourth quarter and increased 0.7% quarter-on-quarter.

Of the total public debt, 87.7% (938.799 billion euros) corresponds to central government debt, while that of the autonomous regions accounts for 24.4% (261.268 billion euros) and that of local authorities 3.2% (35.147 billion euros). The Social Security accounts for 1.6% of total debt (17.188 billion euros).

Both the central goverment and the autonomous regions have seen their debt increase in the fourth quarter from the third, up 0.4% in the case of the central government and up 3.2% in the regions.

In the case of the Social Security, its debt was practically stable, dropping just nine million euros, while town councils’ debt fell 4.6%.





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